RTX Co. (NYSE:RTX) Shares Sold by Plato Investment Management Ltd

Plato Investment Management Ltd trimmed its stake in shares of RTX Co. (NYSE:RTX) by 79.2% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 7,896 shares of the company’s stock after selling 30,074 shares during the quarter. Plato Investment Management Ltd’s holdings in RTX were worth $793,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Capital Research Global Investors increased its holdings in shares of RTX by 4.2% in the 1st quarter. Capital Research Global Investors now owns 94,191,735 shares of the company’s stock worth $9,186,520,000 after acquiring an additional 3,761,246 shares during the period. Capital International Investors increased its stake in shares of RTX by 4.8% in the first quarter. Capital International Investors now owns 68,394,575 shares of the company’s stock valued at $6,670,523,000 after purchasing an additional 3,161,165 shares during the period. Clearbridge Investments LLC raised its holdings in shares of RTX by 2.0% during the first quarter. Clearbridge Investments LLC now owns 10,938,655 shares of the company’s stock valued at $1,066,847,000 after buying an additional 213,331 shares during the last quarter. Sanders Capital LLC boosted its position in shares of RTX by 6.8% during the fourth quarter. Sanders Capital LLC now owns 10,674,438 shares of the company’s stock worth $898,147,000 after buying an additional 677,520 shares during the period. Finally, Norges Bank bought a new position in RTX in the 4th quarter worth approximately $690,154,000. Institutional investors and hedge funds own 86.50% of the company’s stock.

RTX Price Performance

RTX stock opened at $119.12 on Monday. The firm has a 50-day moving average of $114.11 and a two-hundred day moving average of $105.47. The firm has a market capitalization of $158.46 billion, a PE ratio of 46.71, a P/E/G ratio of 2.11 and a beta of 0.82. The company has a current ratio of 0.99, a quick ratio of 0.73 and a debt-to-equity ratio of 0.66. RTX Co. has a one year low of $68.56 and a one year high of $123.70.

RTX (NYSE:RTX) last posted its quarterly earnings data on Thursday, July 25th. The company reported $1.41 EPS for the quarter, topping analysts’ consensus estimates of $1.30 by $0.11. RTX had a net margin of 3.12% and a return on equity of 11.37%. The firm had revenue of $19.72 billion during the quarter, compared to analyst estimates of $19.29 billion. During the same quarter last year, the business posted $1.29 EPS. The company’s revenue was up 7.7% on a year-over-year basis. On average, analysts forecast that RTX Co. will post 5.45 earnings per share for the current year.

Insider Activity

In related news, insider Shane G. Eddy sold 6,741 shares of the stock in a transaction dated Friday, July 26th. The stock was sold at an average price of $114.76, for a total value of $773,597.16. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, Chairman Gregory Hayes sold 134,887 shares of the company’s stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $117.74, for a total value of $15,881,595.38. Following the transaction, the chairman now directly owns 566,723 shares of the company’s stock, valued at $66,725,966.02. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Shane G. Eddy sold 6,741 shares of the stock in a transaction on Friday, July 26th. The stock was sold at an average price of $114.76, for a total value of $773,597.16. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 178,333 shares of company stock worth $20,861,880. 0.13% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the company. Bank of America upgraded RTX from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $110.00 to $140.00 in a research report on Wednesday, July 31st. Susquehanna upped their price objective on shares of RTX from $119.00 to $140.00 and gave the stock a “positive” rating in a report on Friday, July 26th. Melius Research raised their target price on shares of RTX from $490.00 to $493.00 in a research note on Wednesday, July 24th. Wells Fargo & Company reduced their price target on shares of RTX from $491.00 to $467.00 and set an “equal weight” rating for the company in a research note on Wednesday, July 24th. Finally, Alembic Global Advisors upgraded shares of RTX from a “neutral” rating to an “overweight” rating and set a $134.00 price objective for the company in a report on Tuesday, July 30th. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, RTX currently has a consensus rating of “Hold” and a consensus price target of $157.31.

About RTX

RTX Corporation, an aerospace and defense company, provides systems and services for the commercial, military, and government customers in the United States and internationally. It operates through three segments: Collins Aerospace, Pratt & Whitney, and Raytheon. The Collins Aerospace Systems segment offers aerospace and defense products, and aftermarket service solutions for civil and military aircraft manufacturers and commercial airlines, as well as regional, business, and general aviation, defense, and commercial space operations.